It has been 10 years after the financial crash of 2007-8 and the dysfunction of our banking system is finally under scrutiny. A recent event for Positive Money on 18th September 2017 saw 200 people gather at the RSA (Royal Society of Arts) to watch a panel do just that. Asking whether ‘a reformed financial system can solve the world’s biggest problems’ were Martin Wolf, Ed Balls and Fran Boait, in a panel debate chaired by Emily Maitlis.
Welcome news this week came from the IPPR Commission on Economic Justice with the publication of their interim report. Prominent voices in business, politics and academia have lent their weight to the report, which assesses the ‘broken’ economic model - or, as the authors prefer, ‘economic muddle’ - we in the UK are burdened with. The buzz around the publication throws up an opportunity to refine the proposals being mooted for reform, and to direct the debate towards areas that risk being overlooked.
Central banks have the power to tackle the urgent problem of climate change. It's time to hold them to account, write Josh Ryan-Collins and Frank van Lerven from the New Economics Foundation in their latest report:
Policies since the financial crash have been timid compared with historic examples, writes Martin Sandbu in his article published in the Financial Times on 29th Aug 2017, in which he offers "three radical ideas to transform the post-crisis economy".